Debt crosses Rs1.7 trillion mark

[quote]ISLAMABAD, July 20: Pakistan’s total outstanding domestic debt has crossed Rs1.787 trillion mark on May 31, 2003, up by about Rs70 billion, from Rs1.718 trillion in June 2002.

The rise in debt has taken place despite reduced interest rates and government’s claims that “accumulation of domestic debt has been brought to a stop” through fiscal discipline.

….The domestic debt servicing in Pakistan consumed more than 66 per cent of total revenue, leaving very little fiscal space for development spending, social sector and physical infrastructure spending.

>>[url=http://www.dawn.com/2003/07/21/top7.htm]Dawn[/url]

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One thought on “Debt crosses Rs1.7 trillion mark”

  1. There is only way to decrease debt is to increase export with STOP imports and BEST banking system. Start to make policies like public Govt. sharing projects & encourage overseas Pakistanis to invest with sufficient protections.

    A huge trend that I have seen that oversea Pakistanis have HUGE amount of money & they want to invest in Pakistan but their is NO way to assist them. As a result they have only 1 option to buy a property. and sometimes they robbed by GOVT DEPARTSMENTS.

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